California § 53356.03. 53356.03. (Amended by Stats. 1997, Ch. 204, Sec. 1.)

California Statutes

§ 53356.03. — 53356.03. (Amended by Stats. 1997, Ch. 204, Sec. 1.)

California § 53356.03.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.2.

Title 5.DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES

Part 1.PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES

Ch. 2.5.CHAPTER 2.5. The Mello-Roos Community Facilities Act of 1982

Art. 5.ARTICLE 5. Bonds

This text of California § 53356.03. (53356.03. (Amended by Stats. 1997, Ch. 204, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 53356.03. (2026).

Text

The proceeds of any bond, note, or other security issued pursuant to this chapter, or the proceeds of any bond, note, or other security issued pursuant to any other authority where revenue collected pursuant to this chapter is pledged or otherwise committed to pay or repay principal, interest, or both, shall be deposited or invested only in one or more of the instruments, securities, or obligations that are eligible legal investments of the local agency.

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The proceeds of any bond, note, or other security issued pursuant to this chapter, or the proceeds of any bond, note, or other security issued pursuant to any other authority where revenue collected pursuant to this chapter is pledged or otherwise committed to pay or repay principal, interest, or both, shall be deposited or invested only in one or more of the instruments, securities, or obligations that are eligible legal investments of the local agency.